BUZZ-Commercial Metals shares surge as its fourth quarter results beat expectations

October 15 - **Steelmaker Commercial Metals (stock code: CMC.N) shares rose 4.15% in pre-market trading to $68

**The company reported adjusted earnings per share for the fourth quarter of $2.09, above the LSEG analyst consensus estimate of $1.97

**CMC reported quarterly revenue of $2.66 billion, exceeding analysts' expectations of $2.57 billion

**The company expects that, through margin improvement measures by fiscal year 27, it will achieve approximately $100 million in incremental annual EBITDA

**Out of 14 brokerages, 9 rate the stock “buy” or higher, while 5 rate it “hold”; the median price target is $80

**The stock is currently trading at 8.57 times forecast 12-month earnings per share, well above the industry median of 3.25 times

**Including today’s gain, CMC shares have still fallen more than 5% so far this year

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